State pension credit: When will change in rules take place? Will you be £7,000 worse off?

STATE pension claimants may already know that changes are in-store for the pension credit scheme. These plans could leave some people £7,000 worse off each year, but when exactly will the changes come into effect?

The state pension is something many retired people in the UK claim. The sum of money that each pension is entitled to will vary, and unlike other types of pension, it comes directly from the government. However, a change to the state pension credit rule was recently unveiled. And, this could lead to some Britons being £7,000 per year worse off.